Houston Business Incorporation

Wilhite & Associates, P.C Attorneys at Law are successful in assisting clients with incorporation matters throughout the entire Harris County including Houston, Northwest Houston, Champions, Spring, Tomball, The Woodlands and Conroe. Whether starting your own business, expanding your commercial presence, or making personal financial plans, it is important to ensure that you limit your personal liability, maximize your tax savings, and create a professional image for your clients, customers, and business associates. The attorneys at Wilhite & Associates, P.C. are available to consult with you about the type of business entity that will best suit your needs.

Listed is a brief description of each type of entity and their basic benefits and potential problems:

Corporations

Corporations are possibly the most recognized business entity. They consist of a board of directors as the governing body and shareholders as owners. Corporations also have officers who manage the day-to-day operations. If formed and operated properly, corporations provide liability protection to their directors, shareholders, and officers. Corporations also provide a vehicle for providing needed benefits to their owners and employees. By making the proper election pursuant to the Internal Revenue Code (for example, electing ‘C’ corporation or ‘S’ corporation status) you can also maximize your tax savings. Corporations provide many benefits, but they can be cumbersome to operate properly with the meeting minutes requirements and other formalities necessary for this type of entity.

LLCs

Limited liability companies are a more modern business entity recognized by Texas statute. LLCs have managers who make up the governing body of the entity, members as owners, and can also have officers, such as president, secretary, and treasurer. LLCs may also have managing members who act both as the governing body and owners of the company. LLCs provide limited personal liability to their members, managers, and officers, and can act as ‘pass through entities’ for tax purposes (similar to the ‘S’ corporation). This entity is ideal for the company that is owned and governed by a few individuals who are looking to simplify the record-keeping requirements and minimize formalities. However, in some situations, LLCs provide fewer tax benefits to members than corporations.

Partnerships

General partnerships provide no liability protection. All partners in a general partnership share in the assets, income, management, and liabilities of the general partnership. Limited partnerships provide limited liability to limited partners who are generally considered passive investors in the partnership venture. LPs must have a general partner that will be responsible for all partnership liabilities. Limited liability partnerships (LLPs) provide limited liability for certain debts and claims if properly registered with the Texas Secretary of State. Partnerships are governed by partnership agreements that set out the rights and duties of each partner, and the agreements can be highly tailored to meet the business purposes of the partnership.

Sole Proprietorships

Sole proprietorships, also known as d/b/a or assumed names, are not a separate legal entity from their owner. As a result, they provide no limitation of personal liability and little tax benefit. An assumed name is registered with the county or counties where the business will operate.

Wilhite & Associates, P.C. | Houston Civil Litigation Lawyers

Properly forming and operating the business entity that bests suits your needs is imperative to limiting your personal liability and meeting the other goals of your business. To incorporate or form your business entity, you will need to consult with professional experts, including attorneys, CPAs, and financial planners, who understand your needs. Contact the attorneys at Wilhite & Associates, P.C. to schedule a consultation and discuss your specific concerns and goals. Our Houston civil litigation attorneys represent clients in Houston or surrounding areas, including Harris County, Montgomery County, Washington County, Grimes County, Fort Bend County or Waller County. Call (281) 537-2171 or submit any questions or concerns you may have in our online form.

The hiring of a personal injury attorney or other civil law attorney is an important decision that should not be based solely upon advertisements. Before you decide which Houston attorney to hire for your case, ask us to send you free written information about our legal experience and qualifications.

This site is sponsored by George W. Wilhite, P.C. Our principal office is located in Harris County, Texas at 17101 Kuykendahl Rd., Houston, TX 77068.

The information provided on this website is for general information purposes only. The information you obtain at this website is not, nor is it intended to be, legal advice. You should consult an attorney for advice regarding your own particular situation. The content of this site, including but not limited to written text, images, videos, and informational articles, has not been prepared, endorsed, or reviewed by any form of licensed medical professional, doctor, or physician. The information you obtain at this site is not, nor is it intended to be, medical advice. All visitors are encouraged to consult with a physician or other licensed medical professional for any form of medical advice.

Use of this website or submission of an online form does not create an attorney-client relationship. We invite you to contact us and welcome your calls, letters and electronic mail. Contacting us does not create an attorney-client relationship. No attorney-client relationship is formed until after you consulted with an attorney at Wilhite & Associates, P.C. and have signed a client agreement. Please do not send any confidential information to us until after an attorney-client relationship has been established. Contact us today for more information.